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Barracuda tops Street 4Q forecasts

CAMPBELL, Calif. (AP) _ Barracuda Networks Inc. (CUDA) on Monday reported fiscal fourth-quarter net income of $3.2 million.

On a per-share basis, the Campbell, California-based company said it had net income of 6 cents. Earnings, adjusted for one-time gains and costs, were 19 cents per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The cloud-based security and storage services provider posted revenue of $89.3 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $88.7 million.

For the year, the company reported net income of $10.2 million, or 19 cents per share, swinging to a profit in the period. Revenue was reported as $352.6 million.

Barracuda shares have increased 9 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $23.41, a climb of 47 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUDA at https://www.zacks.com/ap/CUDA

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Keywords: Barracuda Networks, Earnings Report